However, there are a number of other factors that determine the well-being of a country, such as tax rates, cost of living, security, social guarantees, etc. The following is a list of the 10 countries with the highest average wages.
10. the Netherlands
Annual Gross Income: $ 47,056
Mandatory tax deductions: 37.8 percent
Salary after deductions: $ 29,269 per year
The Dutch economy is largely dependent on the food and chemical industries, electrical appliances, tourism, and mechanical engineering. The city of Rotterdam is home to the largest port in Europe, connecting the UK and German markets. The industry in the Netherlands is highly automated and the process of introducing modern technological innovations is taking place everywhere.
9. South Korea
Annual Gross Income: $ 35,406
Mandatory tax deductions: 12.3 percent
Salary after deductions: $ 31,051 per year
South Korea is the only Asian country on this list. The country, heavily dependent on international trade, is the world’s sixth-largest exporter and tenth largest importer. The country is in fifth place in the world in terms of the volume of nuclear electricity production. The energy produced by nuclear power plants accounts for 45% of the total energy consumed in the country. South Korea also produces nuclear reactors for export.
8. Norway
Annual Gross Income: $ 43,990
Mandatory tax deductions: 29.3 percent
Salary after deductions: $ 31,101 per year
Norway is a capitalist welfare state rich in resources such as oil, hydroelectricity, fish, forests, and minerals. The public health system is quite effective and free for the residents of the country. The state has a serious impact on the main spheres of the economy. Besides, Norway has the lowest rate of unemployment.
7. Canada
Annual Gross Income: $ 42,253
Mandatory tax deductions: 22.7 percent
Salary after deductions: $ 32,662 per year
Canada is a net exporter of energy thanks to its vast oil and gas resources. The country has the second-largest reservoir of reservoir oil and gas in the world. Canada is a major producer of minerals and agricultural products, from zinc, uranium, gold, nickel, aluminum, and lead to wheat, rapeseed, and other grains.
6. the UK
Annual Gross Income: $ 44,743
Mandatory tax deductions: 25.1 percent
Salary after deductions: $ 33,513 per year
The UK is the sixth-largest tourist destination in the world. It is noteworthy that the service sector generates a little less than 75 percent of the country’s gross domestic product. Great Britain is the world’s largest financial center after New York. The Scottish city of Edinburgh is also one of the financial centers of Europe.
5. Australia
Annual Gross Income: $ 44,983
Mandatory tax deductions: 22.3 percent
Salary after deductions: $ 34,952 per year
Australia prefers the export of raw materials to the production of final goods in the country. The country has been practicing this policy for the past 10 years. This made it possible to significantly increase the balance of trade. In almost all aspects of the economy, the country is experiencing growth today.
4. Switzerland
Annual Gross Income: $ 50,242
Mandatory tax deductions: 29.4 percent
Salary after deductions: $ 35,471 per year
It is not a secret that living in Switzerland is very expensive. However, this is not considered a problem for citizens, and the unemployment rate is only 3% in the country. The country is highly dependent on talent coming from outside the country. Switzerland has formed a labor market concentrated on workers with special talents.
3. Luxembourg
Annual Gross Income: $ 52,847
Mandatory tax deductions: 28.1 percent
Salary after deductions: $ 37,997 per year
The country has highly developed categories such as health and pharmaceutical products, chemicals, high precision measuring instruments, and musical instruments. The country’s economy also depends on banking, insurance, tourism, and international organizations.
2. Ireland
Annual Gross Income: $ 50,764
Mandatory tax deductions: 18.9 percent
Salary after deductions: $ 41,170 per year
Ireland is a knowledge-based economy with a growing high-tech service sector and industries. A workforce with a very high level of education as well as a low corporate tax rate. Ireland is the country with the second-highest net median income in the world at $ 41,170 per year, as well as the second-lowest tax paid.
1. United States of America
Annual Gross Income: $ 54,450
Mandatory tax contributions: 22.8 percent
Salary after deductions: $ 42,050 per year
Undoubtedly, the USA is still the most powerful country in the world, with a mixed economy and capitalism driving it. And although recently too many problems have fallen on the heads of workers in this country, their salaries (if any) are quite decent. Dominance is based on minerals, highly developed infrastructure, and productivity in its use. The USA is a huge importer and second-largest exporter of goods in the world, the country has the highest average income in the world.